Outlook Gold SilverGold has lost nearly 4 percent in the last three sessions, partly due to profit-taking after its rally on tensions over Ukraine. The U.S. central bank also proceeded with its reductions to its massive bond-buying stimulus, announcing it would cut its monthly purchases of U.S. Treasuries and mortgage-backed securities to $55 billion from $65 billion. A stronger dollar will also weigh on gold, with the dollar index jumping 0.7 percent yesterday. We expect gold to trade on weak note in today’s session. In the Indian markets rupee weakness will cushion the fall in gold prices.

Natural GasEIA Inventories ForecastThe US Energy Department (EIA) released its weekly natural gas inventories report tonight at 8:00pm IST and inventories are expected to show a buildup for the week ending 14th March 2014.

Outlook EnergyFrom intraday perspective, crude prices will trade higher on the back of positive sentiments with regards to the growth in the US economy. Also expectations of inventory to be drained at Cushing in the coming weeks also act as a supportive factor. In addition, the tensions between US and Russia have increased as United States warned Moscow that it was on a "dark path" to isolation as Russian troops seized two Ukrainian naval bases, including a headquarters in the Crimean port of Sevastopol where they raised their flag.In the Indian markets, prices will trade stronger mixed on account of the rupee weakness and further developments in the Crimean region.

Outlook Base metalWe expect base metals prices to trade on a mixed note today as weak market sentiments due to another round of QE tapering by the US Federal Reserve coupled with strength in the DX will exert downside pressure in the prices.While on the other hand, expectations of favorable industrial orders data from UK will act as a positive factor. Further, forecast for upbeat industrial orders data from the UK along with estimates of rise in existing home sales and Philly fed manufacturing index from the US in the evening session will support an upside in the prices.In the Indian markets, depreciation in the Rupee will act as a positive factor for the prices.

International CommoditiesThursday, March 20, 2014Important Events DATA for Today